Set in over 50 acres of peaceful croft land with stunning views of the Bays of Harris, Isle of Skye and mainland Scotland, Flodabay farm is a family run B&B and Motorhome Park which aims to provide guests with a relaxing and tranquil environment for a secluded getaway.
With plans to increase their business offering and appeal to the wider market, Director of Flodabay Farm, Chris Marrow, began making plans to introduce eco-friendly self-catering chalets to the site which, with the addition of hot tubs, would help attract more customers to visit the island. This in turn would have a positive impact on not only the business itself but also the local economy.
After reaching out to Business Gateway for advice on where to seek funding to support the build and installation of the chalets, Chris was advised to speak with the team at Business Loans Scotland (BLS).
Supporting small and medium sized businesses across Scotland with loans to start-up or grow, BLS offer loans from £25,000 to £250,000 to ensure that commercially viable proposals do not fail from a lack of access to finance.
Fully financed by the Scottish Government, BLS has issued loans to 136 businesses across Scotland to date totalling in excess of £10.3 million with loans being used for various purposes including to raise working capital, invest in office premises, increase marketing activity and to introduce new product lines to name a few.
Applying for a loan online, Flodabay Farm was issued a £45,000 loan from BLS as part of a larger funding package totaling £90,000 which would enable Chris and the team to have 2 chalets designed, built and installed on site.
Speaking of the £45,000 loan issued, Director of Flodabay Farm Christopher Marrow said: “I am so grateful for the help I have received from BLS and look forward to taking Flodabay Farm to the next level in these difficult times and hope BLS will still be there when we need them again.”
Andrew Dickson, Fund Manager of Business Loans Scotland said: “Flodabay Farm’s luxury chalets are a fantastic addition in enabling the business to expand their offering which in turn will also help increase business income. We have thoroughly enjoyed seeing the progress of the chalets from the initial planning stage right through to them being fully functioning and ready to welcome guests. We are delighted to have been able to support Chris with a loan to expand the business and wish Flodabay Farm continued success for the future."
He added: “With £4 million of loan finance still currently available, we are keen to speak with Scottish Business Owners, who, like Chris of Flodabay Farm, require finance to either start a new business or expand their current one, to see if we can help.”
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